Andrew Winter: How to buy the right apartment

Andrew Winter: How to buy the right apartment

“Our focus is on smaller scale, boutique projects in the best locations that are suited to the downsizer market,” director Ben Dunnet said.

“We feel this is the best spot in Crows Nest because it is a due north corner site with year-round light on three sides and it has frontage to Devonshire St … right on the doorstep of the bustling village,” he said.

The project’s luxe kitchen taps will have settings for chilled, boiling and sparkling water.Source:Supplied

According to CoreLogic records, the developer acquired the site at 137 Alexander St last year for $2.5 million.

With construction due to start this year, two commercial buildings will be knocked down to make way for the chic complex. The build is expected to take 12 to 15 months.

Overlooking a heritage conservation area, the site is only 150m from a newly opened Coles supermarket. It is also close to the future Crows Nest metro railway station.

An artist’s impression of the low-lying development in Alexander St.Source:Supplied

Retail spaces will fill the ground floor and apartments, including luxe penthouses, will flow across the top three storeys.

Mr Dunnet said general feedback from downsizers suggested they were looking for lavish inclusions.

“When you are moving from a larger home with every comfort and it is a smaller space than what you are used to, you still want to have the creature comforts.

Apartments will have a balcony or courtyard.Source:Supplied

“There will be things like underfloor heating in bathrooms and, in the kitchen, there is a multi-function tap with settings for filtered cold water, boiling water and sparking.”

With interiors by award-winning designers Nettleton Tribe, there will also be oak timber floors, plush wool carpets in bedrooms and Italian porcelain with a marble look in kitchens.

The apartments, which have car spaces and balconies, are selling via CBRE’s senior director of residential, Tim Rees, who said there had been a swarm of early interest.

“We had over 220 inquiries in the first couple of days of putting it to the market,” he said. “We’re getting demand from people in Cammaray, Neutral Bay, Cremorne, Mosman, Crows Nest and Lindfield, all fitting the empty-nester profile.”

One bedders start at $1.11 million; two bedrooms cost upwards of $1.55 million and three-bedroom units are priced from $3.6 million.